Vietnam’s industrial production grows 5.7% in five months


HÀ NỘI — The country’s industrial production index (IIP) surged 5.7 per cent year-on-year in the first five months this year, the General Statistics Office (GSO) reported.

The five-month IIP growth was higher than the 5.1 per cent increase seen in the first four months and was double the increase seen in the first two months. The numbers proved that the national industrial production had been improving, GSO statisticians said. 

The processing and manufacturing industry, which accounted for over 70 per cent of the total industrial output, saw a yearly IIP rise of 9.7 per cent.

The IIPs of two other sectors, the electricity production and distribution, and water supply and waste and wastewater treatment, soared 10.4 per cent and 7 per cent, respectively.Meanwhile, the mining industry experienced a significant decline of 9.1 per cent, much higher than the 2.5 per cent drop recorded in the same period last year, GSO said.

Among the key industrial products that posted high IIP increases in five months were television sets (42.8 per cent), raw steel and iron (29.6 per cent), urea (18.5 per cent), fabric (15.3 per cent) and powdered milk (10.4 per cent).

The northern port city of Hải Phòng took the lead among localities enjoying high IIP in five months with 20.5 per cent. It was followed by northern Thái Nguyên Province with 17 per cent, central city of Đà Nẵng with 10.8 per cent and two southern provinces of Bình Dương Đồng Nai with 8.1 per cent and 7.8 per cent, respectively. Meanwhile, the capital city’s IIP saw a modest rise of 5.9 per cent. 

Despite the positive IIP growth, the consumption index of the manufacturing and processing industry showed a tendency to slow down with a 8.1 per cent rise in the first four months, compared with the 9.3 per cent rise in the corresponding period last year, GSO statisticians noted. 

According to the office, as of May 1, the inventory index of the processing and manufacturing sector expanded by 11 per cent, compared with the same period last year.

The index escalated 113.4 per cent in pharmaceutical production; 99.4 per cent in chemical and chemical products; 82.4 per cent in metal production; 69.8 per cent in motored vehicles; 50.1 per cent in electronic products, computers and optical products and 40.6 per cent in beverage.

Source Vietnam News

Photo: CBR Investment AG